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Stein Mart, Inc. Reports December 2012 Sales

JACKSONVILLE, Fla., Jan. 3, 2013 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (Nasdaq:SMRT) today reported comparable store sales increased 5.9 percent for the five-week period ended December 29, 2012. Comparable store sales for the quarter to date November/December holiday selling period were up 6.3 percent. Total sales for December were $176.5 million, an increase of 6.4 percent from the same period in 2012. For the year to date, comparable store sales increased 2.6 percent and total sales increased 3.2 percent to $1.135 billion.
      Percent Change
  Total Sales (in millions) Total Sales Comparable Store Sales
Fiscal period 2012 2011 2012 2012 2011
December (5 weeks) $176.5 $166.0 6.4% 5.9% 0.0%
Quarter to date (9 weeks) $286.3 $268.1 6.8% 6.3% -1.8%
Year to date (48 weeks) $1,135.0 $1,100.3 3.2% 2.6% -1.0%

Linens, ladies' boutique and ladies' career sportswear posted the strongest sales for the month, while ladies' casual sportswear, ladies' accessories and dresses were more challenged. Geographically, sales increased in every state, with California and Florida performing best.

"I am extremely pleased with our December sales which followed a very strong November.  This represents our sixth consecutive month of positive comp sales. It has been more than seven years since we have experienced comp increases like this," said Jay Stein, Interim Chief Executive Officer. "As we look forward to next year, we believe we are well positioned to continue our positive trend."

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